With tickets to the World Blockchain Summit 2021 fast selling out, Polytrade has announced it will launch its Minimum Viable Product (MVP) at the conference. The receivables finance company noted that the announcement would be made by its Founder and Chief Executive Officer, Piyush Gupta, during his keynote speech at the summit in October.
Prospects and Pathways of Polytrade
Though only recently ideated, Polytrade’s venture into blockchain solutions has been in the news for all the right reasons. Back on August 18th, Polytrade completed a successful fundraising round via its IDO on Polkastarter attracting interest from all around the globe. The company also launched 50NFTs to celebrate the history of global trade. Additionally, the protocol’s native token, $TRADE, got listed on Gate.io, Uniswap, and Quickswap.
At the time of writing, Polytrade has secured several high-profile partnerships with blockchain-based companies like Chainlink, Formation.fi, GTR, Marco Finance, Polygon, and Venly.
A testament to its potentials, the price of the TRADE token is up 3x the IDO price, an ATH of 8x the IDO price, with a market capitalization of about $ 2 million making TRADE a very good project for crypto enthusiasts and veteran investors alike.
A Track Record of Excellence
It comes as no surprise that Polytrade is ready to launch its MVP by October. The blockchain-based protocol brings safe and insured real-world assets to the crypto ecosystem effectively transforming receivables financing. Through its decentralized platform, buyers, sellers, insurers, and investors will connect, and enjoy seamless receivables financing while avoiding pre-existing market challenges.
Polytrade is positioning itself to bridge the gaps in traditional receivables financing by using the untapped liquidity of stored cryptocurrencies to finance the immediate capital needs of SMEs’. By using the platform, borrowers will be able to access low interest and quick financing from crypto lenders.
On the Polytrade protocol, Co-Founder & COO Polygon Network, Sandeep Nailwal stated during the India Crypto Summit: “I have immense respect for the Polytrade team who have done $ 500 m worth of trade finance transactions and are now building a trade finance protocol on the Polygon network.”
Conclusion
Indeed, Polytrade is building the right tools to help maximize the untapped liquidity of stable coins and make the same available to importers and businesses in need of receivables financing. Aside from the tools, it is building, Polytrade also has the team to get the job done. With a track record of funding more than 250 borrowers with about $500 million, the team is vastly experienced in the world of trade financing.
The launch of the protocol’s MVP will let users test the product while showing its value to them.